Consider an example from the
world of mobile phones and technology. Specifically, consider how Apple
and the iPhone survived and thrived
during the Hurricane of Change in the
mobile phone industry. The interesting
thing is not that Apple created the
iPhone. The interesting thing is that
Apple keeps improving the iPhone.
Apple doesn’t stop improving just
because they survived and thrived during one or two Great Waves of Change
that have flooded the mobile phone
industry. It’s not enough to be successful once. It’s not enough to simply ride
one or two Great Waves of Change. In
order to maintain consistent levels of
success in any industry, you must constantly improve and stay on the cutting
edge, while anticipating and riding the
waves of change.
We can learn from this and apply it
to how we respond to the Hurricane of
Change that constantly floods the
mortgage industry. It’s not enough that
you survived (and maybe even thrived)
during the Great Mortgage Meltdown.
The key is to relentlessly focus on
improving yourself now and into the
future. Improve your Realtor relationships. Improve the way you convert
rate shoppers. Improve the way you
generate referrals from CPAs and
financial advisors. Improve the speed
and ease with which you simplify compliance and understand the Hurricane
of Change. Your mission, should you
choose to accept it, is to constantly
improve yourself and ride the dangerous waves of the Hurricane of Change
at the same time … all without getting
burned out!
But how? Consider an example
from the world of personal fitness.
You work out, you eat, you rest, and
then you repeat the process over and
over again. The workout cannot
always be the same; it must focus on
different muscle groups and levels of
resistance. The food cannot be filled
with processed sugar and fat; it must
be nutritious and have varying balances of protein and carbohydrates.
The rest cannot be overlooked or
short changed; it must be consistent
in order to re-energize your body and
help you maintain high levels of
endurance and strength.
This type of cycle is exactly what
you need to consistently maintain
high levels of success in the mortgage
industry. You need to regularly participate in training opportunities that
boost your levels of knowledge and
equip you with new skills. These are
like the workout sessions that constantly challenge you to higher levels
of performance. You need to regularly fill your mind and heart with quali-

ty content and strategic insights. These
are like the nutritious foods and recovery drinks you take after a good workout. You need to rest and recharge and
have a fulfilling personal life in addition to your career in the mortgage
industry. This will help you avoid
burnout and keep your career situation aligned with your priorities in life.
Apple doesn’t stop innovating and
improving when it comes out with a
killer product like the iPod, the iPhone
or the iPad. Apple keeps researching,
creating and improving their products
in order to remain on the cutting edge.
People with nice physiques don’t stop
working out or challenging their bodies
once they reach a certain level of physical health. They keep challenging
themselves to higher levels in order to
maintain their health and improve
their bodies.

“‘Who controls the future of mortgage banking?’ The future of the
mortgage banking is change.”
Truly successful mortgage originators do not stop learning and challenging themselves once they survive the
Great Mortgage Meltdown. They recommit themselves to excellence every day
and remain on the cutting edge. They
discipline their minds and take
advanced training courses in order to
build more business muscle and outperform the competition. They consistently feed themselves quality content
and strategic insights that help them
improve themselves and better understand the Hurricane of Change all at the
same time. Remember, you control
your future.
Gibran Nicholas is the founder and
chairman of the CMPS Institute
(CMPSInstitute.org—NMLS Provider ID#
1400384). The CMPS Institute administers the Certified Mortgage Planning
Specialist (CMPS) designation and has
enrolled more than 5,500 members since
2005. Through CMPS, Gibran empowers
mortgage professionals with confidence,
unique knowledge, and dynamic marketing resources to simplify compliance,
increase their competitive advantage,
and generate more business. Visit
Gibran’s blog and Web site at
http://gibrannicholas.com.
Visit
author
Gibran
Nicholas’s
blog
at
http://gibrannicholas.com
where he shares his insights
on economics, real estate and financial issues, including the current
mortgage and credit crises.

A Look Into the Crystal Ball of
Mortgage Banking
The wild ride continues, but major opportunities lie ahead
By Dave Zitting

It has been an amazing opportunity to this flawed strategy is the overreliance
live and work in mortgage banking over by many, in recent years, on statistical
the last 20 years. But perhaps none of algorithms as a pure replacement for
those years have been more exciting case-by-case, experiential-based judgthan the past two. Some may choose a ment. Flawed strategies like these have
different adjective to describe it (many left us to adapt to a new and increasnot fit for print), and that anyone with ingly regulated marketplace, spawned
this notion is a glutton for punishment. in response to a perceived need to preI disagree! Living in a time when major vent the consequences of these stratehistorical events are playing out around gies to our industry, and their ripple
us on a daily basis is nothing less than effect upon the overall economy. In
thrilling. Without question, there have this new marketplace we’re left with
been some tough days, weeks, months two choices:
and quarters, but if you
Make opportunities to
are still in the game today,
create a better busiyou’re tougher, wiser and
ness out of the chala bit more humble than
lenges of our new marjust a few short years ago.
ketplace; or
With all this change and
Be consumed by those
uncertainty, I’m regularly
challenges.
asked by peers, employees, partners, and cusThe opportunity availtomers, “what will the
able to any company that
future hold for mortgage
desires it lies in the
banking?” I think that picacknowledgement of a
ture is becoming clearer
“The
smart
leaders
new marketplace, and its
with each passing week.
willingness to lead the
The future of private
and companies that
charge in transforming
mortgage banking has
invest in renovations
their business accordingsome interesting times
and technology to
ly. Those organizations
ahead. Unfortunately, the
drive productivity and
that do it will own future
“wild ride” we’ve been on
quality in response to
market share. In reading
over the last several years is
the
margin
pressures
the tea leaves, the overfar from being over. The
from
a
heightened
regwhelming consensus is
future will include some
ulatory
environment
that there will be potenunknowns, some inevitable
issues, some exciting oppor- will succeed in creating tially fewer overall mortgages written, more regutunities, and certainly,
a competitive advanlation, fewer secondary
some unwanted changes
tage that drives both
channel options, and a lot
that every mortgage banker revenues and profits.”
of people throwing in the
will simply need to accept.
proverbial towel. The end
game
for
those
who remain will be
“That which is escaped now, is pain to
“who gets what’s left?” The smart leadcome.”
ers and companies that invest in reno—Proverbs
vations and technology to drive producPerhaps this quote from the book of tivity and quality in response to the
Proverbs has greater meaning for you margin pressures from a heightened
having experienced the last several regulatory environment will succeed in
years in mortgage banking. I think it is creating a competitive advantage that
fair to say that, for mortgage bankers, drives both revenues and profits.
No forecast of the future is complete
the last two years has brought more
change than the two decades prior to without considering the size and scope
it. Most of this change (many would of the overall market for the foreseecall it “pain”) has been forced upon us able future. Currently, the market is
in response to businesses within our running at about $1.2 trillion. This is
industry who temporarily “escaped” considerably smaller than what has
the consequences of failed products
and flawed strategies. One example of
continued on page 33